2021 Edmonton Holiday Gift Guide

And just like that, the holiday season is back! We’re not complaining though, it is one of our favourite times of the year—except for home-buying season, of course. As hyper-local real estate agents, we always look to support local businesses in the city we love. So the TruHome team put their heads together to bring you a 2021 Edmonton Holiday Gift Guide!

This season it is more important than ever to shop local, support others in the community, and give meaningful gifts. Here are 20 gift giving suggestions for this year’s holiday season.

Clo’s General Leather Co.

For the person in your life who likes long-lasting, high quality, made-with-care leather goods. Clo’s General sells a variety of items such as wallets, bags, belts, gloves, hats and accessories. What’s more—you can get your orders personalized!

Token Bitters

This is the perfect stocking stuffer if you’re buying for someone who is into cocktail making. Token Bitters stocks artisinal, handcrafted bitters that are inspired by Edmonton, and features flavours such as Ritchie Cherry, Strathcona Orange and Highland Mojito.

Floc Boutique

For the woman in your life that loves high-quality boutique apparel while simultaneously supporting local, Floc Boutique is women-run and has some of the most unique fashion items in Edmonton. You can also gift a personal styling or shopping day for someone who claims “I never know what to wear!”.

Poppy Barley

As a long-time Edmonton-based business, Poppy Barley is our city’s best-known footwear company. But did you know that they recently started selling things beyond shoes? Leather coasters, organizational sets, placemats, and even checkers sets were included in their recent launch!

Unbelts

We all have at least one pair of pants that requires a belt, so everyone can benefit from a belt from Unbelts! Made for both men and women, Unbelts’ main product is a lightweight, flat fabric belt that comes in every colour of the rainbow. The idea is that you won’t be able to see the bulk of the buckle under your shirt.

Little Plant Shop

For the person in your life that just keeps on buying more plants, the Little Plant Shop sells all the things you need to make your home even more lively. We’re talking home decor, wall art, handmade candles, macrame plant hangers, pots and of course, plants.

Tikkhu Jewelry

Tikkhu specializes in minimalist jewelry at a fair price. They have pieces that suit all styles, and also have an enviable holiday collection with understated gold jewelry and hair accessories. Having launched only last year, Tikkhu has taken off and is a staple jeweller in Edmonton—get them while you can!

Above Average Drinks

For the person in your life who loves a good cocktail, but hates making them, Above Average Drinks is a ready-to-pour cocktail service that delivers high-quality, delicious cocktails right to your door. All you need to do is pop the cork and pull out your favourite glass.

Hideout Distro

Hideout Distro is one of those shops where you can walk in and leave with half the store. This quaint shop is located on 124th street and distributes quality goods by independent brands, artists, designers and musicians from Canada and beyond. Think: vintage apparel, jewelry, stickers, pottery, trinkets, home goods, and more.

Winspear Centre

You can’t go wrong with buying your friends and family tickets to an upcoming show at the Winspear Centre. Sometimes experience gifts are the best thing to give because you might get invited along to the event! You also get to support local artists and performers while they debut in Edmonton.

Adewunmi Skincare

Adewunmi Skincare is a natural skincare brand in Canada. Located in the basement of the Mercer Warehouse, Adewunmi sells a variety of lotions, creams, body washes and oils. They offer a customization service to help those with tricky skin needs.

Ryspot Design

If you’re looking for unique Christmas gifts, look no further, Ryspot Design may be the perfect present. Creating one-of-a-kind products made from concrete, you can purchase clocks, candle holders, trinket trays, side tables, planters and more. May we suggest the iconic Edmonton brick, though?

The Prints and the Paper

A quirky shop located on 124th street, The Prints and the Paper sells graphic art prints, books,  cards and other cool stationary. Walk into this store and you will likely get lost for hours checking out all the unique things that it has to offer!

Shop Chop

Shop Chop is an edgy and fun local gift shop with an ever-changing selection of holiday ornaments, plants, pots, decor, home goods, greeting cards, jewellery, hair products, candles and more. Everyone we know absolutely adores this store, and they also have a hair salon in the back if you need to pamper yourself before you shop!

Strathcona Spirits

As Edmonton’s oldest distillery, Strathcona Spirits creates award-winning spirits made using traditional methods & local ingredients. We have yet to meet someone who doesn’t like Strathcona Spirits, and we think your friends and family will love them too.

Glass Bookshop

We all need a little less screen time, so why not get lost in a page-turner from Glass Bookshop? This gem is an independently- and queer-owned bookstore that features work by queer and racialized writers to uplifts the industry and support independent publishers from Edmonton and beyond. 

Westmount Soap Company

Inspired by the diverse personalities of the communities and neighbourhoods within the City of Edmonton, the Westmount Soap Co. hand makes all natural bar soap, scented with only high quality essential oils. Get all of your stocking stuffers here!

Fenwick & Co.

If you’re shopping for little kiddos, Fenwick & Co. is the place to go for home and baby textiles. With unique screen prints, you can get toques and outfits for your little ones while grabbing some pillows and tea towels for yourself!

Justine Ma Design and Hand Lettering

Justine Ma Design and Hand Lettering is an iconic holiday gift. With a fantastic array of designs in stunning lettering, there is definitely something for everyone you’re buying for. Pick up ornaments, enamel pins, cards, drinkware, keychains, prints, party decor and more!

Restaurant giftcards

If you’re in a bind or are looking for a last minute gift you can’t go wrong with a giftcards to some of YEG’s best local restaurants and cafes. Here are some suggestions: Bianco, Dorinku Osaka, Nineteen, Cafe Amore, Cosmos, Duchess, Gravy, Ohana Donuts, Farrow, Credo, and Rosewood Foods. All of these places are local faves, but there are endless options for supporting local restaurants!

There are so many other local Edmonton shops you can purchase from and support this season, but we hope this helped kick-start your shopping. If you love any other local businesses we might not know about, let us know – we love to shop!

Home inspections are a crucial step in the home buying process. Not only does it allow you to learn more about your future home, but it is the step that gives you the opportunity to either move forward with your purchase or walk away. We could go on and on about home inspections, so that’s why we decided to write a series on them!

Though many are familiar with the standard home inspection (which we will go further into detail in future blog posts), we thought we start out with why home inspections are important. If you’re thinking of purchasing your first home, be sure to set alerts for when we post new articles on our Instagram! Let’s dive in.

What is a home inspection?

A home inspection is the buyer’s last chance to learn the details and specifics of the home they put a deposit on and are looking to purchase. If any problems with the home arise during this step in the home buying process, the buyer can contact the seller to negotiate, or simply walk away from the purchase and get their deposit back.

Though home inspections are technically not necessary, we at TruHome strongly suggest performing one before purchasing your home. We get it—buying a home is already a lot of money and hiring a home inspector is just adding to the list of ever-growing costs. However, if you don’t go through with a home inspection, you could be left with tens or even hundreds of thousands of dollars in repairs that you could have learned about before. Beyond the cost, you could also be buying a home that simply isn’t safe to live in. No one wants that!

What do home inspectors look for?

Home inspectors look for anything and everything in a home. Probably not the answer you were looking for, right? Well, inspectors will look at the big and small—from leaks to small dents in the drywall. But in general home inspections, inspectors take a special interest in water damage, the structural integrity of the building (uneven floors, cracked walls, leaning stairs, etc.), roof damage, electrical, plumbing, bug or pest presence, and heating & cooling systems. 

The list above only scratches the surface, but once you get your home report back after the home inspector is finished, you’ll see what we mean.

What to expect during a home inspection

We always recommend that the buyer comes along for the inspection along with your realtor. Not only can you speak with the inspector one on one to clarify any issues that arise, it also gives the buyer another chance to view the home. Sometimes during these inspections, the buyer brings along measuring tapes and paint samples to get some planning in ahead of time before possession day.

Home inspections usually take between 1-3 hours, depending on the size of the home and the amount of reported issues. In very unique circumstances, home inspections can take a full day.

Once the home inspector is done looking at the home, they will chat with you and give you an in-depth report of the things that the home needs fixed. The length of this list differs between each home. Though the list can sometimes be long, you need to remember to pay attention to the severity of the issues. There may be missing light switches and cracks in the sidewalk, which are more of an aesthetic issue and not necessary to fix right away. However, if the inspection report tells you that there are major issues with your pipes or foundation, that is when you need to decide with your realtor if those are deal breakers or not. Always keep your budget in mind during this step—even though the home may seem perfect, it may not be worth it to fork out thousands of dollars to fix the issues.

What to expect after a home inspection

After the home inspection takes place, it’s time to sit down with your realtor. If the report shows only a few minor things, then your realtor will likely suggest to move forward with the purchase without any changes to your deal.

However, if your home inspection report comes back with major issues, your realtor will give you three options: 1) to negotiate with the seller to get a smaller selling price of the home, 2) to negotiate with the seller to have them fix the issues before possession day, or 3) to walk away from the home altogether. If the seller agrees to fix the issues for you, it is important to have a follow-up walk-through before your possession date to ensure that the problems were properly tended to.

If you decide to walk away from the home, your realtor will go back to step one and send you listings of homes that are similar to the one you just walked away from. Though it’s extremely disappointing for our clients (and for us!) when this happens, we have never regretted backing away from a bad investment. 

Hiring a home inspector in Edmonton

Edmonton is filled with many credible home inspection companies. Did you know that Alberta and British Columbia are the only two provinces that require home inspectors to have certifications? This means that here in Alberta, all home inspectors are licensed and you can sleep soundly knowing that trained professionals are inspecting your home. We at TruHome work with a couple specific companies that are amazing. Here they are:

Brent Moffat

Edmonton, AB T5T 2Y5, Canada

Phone: 780-224-5035

brent.moffat@abuyerschoice.com

Visit the website

Edgar Castillo, 

Canadian Residential Inspection Services NE Edmonton

Namao Center PO Box 31085 Edmonton AB T5Z 3P3 (Street Address: 10315 – 178 Avenue NW, Edmonton)

Phone: 780-910-2857

ECastillo@CanadianResidential.com

How much does a home inspection cost?

During most purchases, the buyer usually pays for the home inspection. However, there’s no rule that says that you can’t negotiate that the seller pays for the home inspection when you’re in the negotiation stage before the inspection takes place.

There are some cases when the seller performs a home inspection before they put their house on the market. In those cases, it is up to the buyer to either accept that home inspection or perform a second home inspection on their own dime. However, we at TruHome definitely recommend hiring your own inspector—someone that is unbiased and can give you an honest report.

That being said, if you are hiring the home inspector yourself, you can expect to spend between $200-$400. 

In conclusion

We know home inspections can be daunting—especially when you’re a first-time home buyer. But like we mentioned earlier in this article, home inspections are important and necessary, even if they aren’t required to purchase a home. 

More often than not, there will be an issue with your home, even if it’s only a year or two old. But know when this happens, you’re not alone. Your realtor is there to help you throughout your journey to home ownership—even when it gets difficult!

We at TruHome take pride in being a shoulder to lean on during the home buying process. At each and every step, we’re only a call or a coffee hang away! If you’re looking to purchase your next place to call home, feel free to book a Buyer’s Consult with us to get started.

If you didn’t already know, the TruHome team is helping lease up the 121 West Condominiums. 121 West offers high quality concrete construction with a wide array of floor plans (studio, one bedroom, and two bedroom) that allows your home to be as unique as you are. Not only are the suites absolutely gorgeous, but the building itself is located in one of our favourite places in our city: the Edmonton Brewery District.

If you haven’t visited Central Edmonton in a while, the Brewery District is a neighbourhood sandwiched between Oliver, Queen Mary Park, and Downtown. It has everything you need—from shopping and food to entertainment and other businesses that offer everything you need. If you are considering moving to the 121 West condos or even moving to the area, keep on reading to learn more about what this neighbourhood has to offer!

Shopping

Winners

Everyone loves Winners—it’s so hard not to! Our team are frequent shoppers at the Brewery District location and have noticed that there is always a great selection of clothing, shoes, and home goods at this location. Don’t believe us? Guess you will have to check it out for yourself!

Miniso

If you have yet to visit Miniso, this is your sign to do so. Miniso is soon to be your favourite Japanese-inspired, low-cost, lifestyle product retailer, offering high quality household goods, cosmetics, and food at affordable prices. Name a product—they’ve got it. Plan to be there for a while, you will get lost in this store and not want to leave! 

Mountain Equipment Coop (MEC)

Calling all people who love the outdoors! Grab your one-time MEC membership and get shopping. MEC is a one stop shop for all season sports, hiking, camping, footwear, clothing, electronics and more. Even if you aren’t a nature lover, you’ll still probably find something you’ll love there.

124th Street

Even though 124th Street isn’t “in” the Brewery District, we had to include it anyway because it’s an icon in the neighbourhood. Just a short five-minute walk away, this beautiful area of our city has tons of shopping options, such as Shades of Gray, Floc Boutique, The Makers Keep, The Prints & The Paper and so much more.

Food

City Market

The Loblaw City Market is a staple in this community.While there are a few good options for grocery shopping, City Market is a favourite amongst those who live in Downtown-adjacent neighbourhoods. Not only is it a new build, but it also has free underground parking.

Blaze Pizza

Think Subway… but for Pizzas. Blaze Pizza is a build-your-own pizza joint that you will be sure to love if you haven’t tried it already.

Wing Snob

Traditional Wings, boneless wings, cauli wings—you name it, they have it. Wing Snob is new to the Brewery District but has quickly become a community favourite!

Cobs Bread Bakery

Name a food item that is more delicious than warm buttered bread. Cobs Bread Bakery serves a variety of different menu items like bread, scones, tarts, danishes, pizza, croissants… the list goes on.

Wilfred’s & Made by Marcus

A dual concept space in the Brewery District, Wildfred’s Handhelds and Made by Marcus are two delicious places to grab a bite. Grab a beer and a sandwich from Wilfred’s, then snag a locally-sourced ice cream from Made by Marcus—it’s a win-win!

Shojo Izakaya

Located in the same building below Wilfred’s and Made by Margus, Shojo Izakaya is a restaurant that serves fresh, modern Japanese cuisine in Edmonton, AB serving Small plates ranging from fried chicken to sushi. What’s more—Shojo has an incredible cocktail menu!

Nando’s

Peri-peri, anyone? Nando’s is an underrated gem in the Brewery District, offering a variety of food options that will please the whole family. Though the menu is centered around chicken, there are several vegetarian options as well. Just don’t forget to add their iconic peri-peri dipping sauce!

Tokiwa Ramen

It’s not a good neighbourhood without a ramen restaurant, right? Tokiwa Ramen is a fan favourite for ramen lovers, with their soup often selling out well before closing time. They prepare their soup daily using quality ingredients locally sourced whenever possible, which is why they only make a limited amount of soup each day! Prepare to stand in line, but we promise it’s worth the wait. 

…And now for a couple restaurants that aren’t in the Brewery District, but are a short walk or scooter ride away!

Brew & Bloom Cafe

You have probably seen the Brew & Bloom Cafe on Instagram at some point. Nourish your body and mind at this gorgeous cafe that features stunning florals and delicious food, including unique drinks, an abundance of food and a large selection of desserts.

Cafe Amore

Get your pasta fix (and then some) at this classic Italian restaurant! Cafe Amore has a pasta feature for every day of the week, and is guaranteed to feed you for several meals.

Art of Cake

The Art of Cake is an eclectic bakery that serves a variety of different sweets, and you can even order signature cakes for occasions such as weddings! 

Health Services

Divine Spine

 Divine Spine is a unique chiropractor’s office offering a computerized treatment system that is designed to gently restore motion to your joints.  It uses a precise and computerized force to facilitate the body’s correction of nerve interference caused by a misaligned spinal joint. 

Pivotal Physiotherapy

Pivotal Physiotherapy provides essential healthcare and exceptional rehabilitative care to help you live your best, healthiest life. They accommodate all types of schedules with flexible hours, and have a second location near High Street. 

FYidoctors

Whether you wear glasses or not, we should all be getting our eyes checked every now and then. FYidoctors offer complete eye exams, prescription eyeglasses, designer frames, custom lenses and sunglasses. 

Oliver Park Dental

Oliver Park Dental understands that the dental office isn’t always your favourite place to visit, but it is a health necessity. This dental office offers an array of different services, such as invisalign, teeth whitening, dental implants, cleanings, children’s checkups and even botox.

Massage Heights

Everyone needs a massage every once in a while. At Massage Heights, every massage experience will be different because they believe in customizing your massage to your needs. 

Goodlife Fitness 

And of course, a neighbourhood isn’t complete without a gym. Goodlife Fitness is a leader in fitness services, providing high-quality equipment, personal training and group fitness classes. The Brewery District location even offers childcare services while you workout!

Other Necessities

TD Canada

If you bank with TD Canada, you are in luck! But even if you aren’t, this bank offers 24/7 access to bank machines just in case you are in need of cash.

Petland

121 West is pet friendly, so having a Petland close by is a definite perk! And even if you don’t own a pet of your own, you can always stop by when you are in need of some pet cuddles, because why not?

 Citizen’s Salon & Tommy Gun’s

And last but definitely not least, the Brewery District has two hair salons to choose from if you aren’t already tied to a hairdresser. Citizen’s Salon is an independent chair rental hair studio where you can go and get your hair done, or if you are a hairstylist yourself, open up your own business! And, of course, for those in need of a barber, Tommy Gun’s is available for you, too. 

The Edmonton Brewery District has so much to offer, and we would love to talk about it more with you. If you are interested in leasing a unit in the beautiful 121 West, feel free to send us a message to book a viewing.

Whether you’ve moved into a new home and have to find a place to put all your belongings, or you’ve been in your home for years but can’t find anything anymore, optimizing your garage space can save a lot of stress. Your garage offers important square footage and should be treated as such, but you’re not alone if you open the door and think “I don’t even know where to start…”

We can’t fix up your garage for you, but we can offer a few tips to help get you started:

Decide what you want to use the space for

Establishing your list of priorities for how the garage should function is step number one. Are you using it primarily as a car park with a bit of extra storage space? Is it a workshop and utility closet all in one? Will a part of it be turned into a home gym? Whatever the case, you should identify what wants and needs can be met with the space that you have. Start by grabbing a piece of graph paper and a pencil to make a to-scale drawing of your space so you know how much room you have to work with after you fill it with all the essentials. 

Declutter

This is a big step. We know. However stressful it may be, it is just as satisfying. Sorting through old sporting equipment, neglected hobby projects, tools that haven’t seen the light of day, and that old patio furniture you keep saying you’ll brush the cobwebs off for next season, is the second step in regaining garage space. Unless it holds sentimental value, serves a true purpose, or brings you some kind of joy, get rid of the extra clutter so you know what has to be organized. Who knows, you may even part with enough stuff to put on a garage sale (we won’t tell anyone if you secretly want to show off your new and improved garage). 

Pick the proper storage and garage mechanics

Once you know what items have to find homes in the garage, it’s easier to find storage solutions to match. First you have to decide on an organizing system. Some of us like clear bins so we can see everything in them without have to search high and low. Others like closed cabinets to hide the clutter and keep everything organized. After you’ve decided how to organize, find a system that works for you and the people that have to access these things. That might be labels, sections of the garage for certain activities, or a color-coded filing system that would impress Sheldon Cooper. 

Another part of optimizing garage use is making sure the mechanics of the garage work as they should. This includes door hinges and handles, lighting, heat, surrounding foliage, and more. If you can’t even access the garage, what’s the point of making it functional?

Use vertical and overhead space

An often-underused area of space is the wall space that’s just out of reach. Hanging floating shelves or adding a few extra stackable shelves to your storage system can produce new indoor real estate you didn’t have before. Storing the seasonal gear or “dangerous goods” (washer fluid, paint, etc.) keeps them out of the way but still accessible. We’ve also seen many functional garage spaces with racks that hang from the ceiling to hold life jackets, snowboards, and other equipment that’s hard to store. 

Make it a welcoming space

You won’t use your garage to its fullest potential if it’s not a space you want to spend time in (even those 3 minutes to get the winter gear of out storage or to flip a breaker). Maybe this means adding extra light sources (adhesive, battery-operated lights if you don’t want to re-wire), insulation for warmth and sound absorption, or paint to make the space look bigger and brighter. Whatever the case, part of regaining your garage space is making sure you actually want to go in there to access the things you need. 

As the needs of you and your family change over the years, consider tackling the garage every 2-3 years to make sure it’s still functional for you. Who knows, your most recent garage update might be the thing that seals the deal for you to list your Edmonton home with us at TruHome. Homebuyers love a practical garage!

In honour of National Pizza Month, we asked our team of pizza fanatics to share their favourite places to get a slice in Edmonton. There is no shortage of pizza places in Edmonton, but here are a few to help satisfy those cravings: 

Sepp’s

As one of the more recent additions to the pizza scene in Edmonton, Sepp’s has taken over the University area by storm. If you’re looking for the perfect New York-style pizza pie, look no further. They don’t do in-person dining but are experts in take out and delivery. Plus, their pizzas make delicious leftovers, so order that second pizza. Our recommendations are the Apulo (if you haven’t had honey on your pizza before, you’ll be converted after this!) and the Funghi.

Campio

Gracing downtown Edmonton with deep-dish pizzas since 2018, Campio take’s the lead for creative pies. The PB&J (pineapple, bacon, and jalapeños), and the Big MacDavid (a Big Mac inspired pizza named after a local legend) are fan favorites. If you’re dining in, take advantage of their brewed in-house beers.

Rosso’s Pizzeria

Centered in one of the oldest neighbourhoods in the city, Rosso’s serves pizza made with organic, locally sourced, and fresh ingredients. Some of our go-to’s are the Soppressata, the Dolce Emma, and the Kale Saltati.

Blaze

With no additives, chemicals, or frozen dough, Blaze gives the city customizable pizzas in eco-friendly packaging. With their assembly line, you can decide what to put on your pizza. 180 seconds in the fast-fired’d pizza oven and then you’re good to go! Great for if you’re in a rush or want something with all your favourite toppings on one crust. 

Bianco

Great pizza tastes even better when you feel like you’re eating it at your family’s home. Authentic ingredients, passionate people, and a lot of love make these pizzas at the top of our list. We recommend the Burrata pizza or the La Famiglia. 

Whatever pizza cravings you might have, there’s a pizza place in Edmonton for that. And we can confidently say our TruHome agents have tried them all!

Now available for pre showing’s, experience this stunning lake view bungalow in the Estates at Water’s Edge brought to you by the TruHome and Edmonton Lake Property Real Estate Group.

We all dream about our perfect home, the one with open concept, bright and spacious rooms beautifully laid out with that living room set you saw at Restoration Hardware. You can almost hear the leaves sway gently as you step out the front door onto that beautiful tree-lined street in Ritchie. Then, you wake up, in front of some headline about Canada’s new mortgage “Stress Test”, and reality sets in.

Don’t Panic. It may not affect you and even if it does, you’re the resourceful type after all. You know how to stretch a budget and now you’re remembering that perfect living room set you saw at Structube. Everything is going to be okay.

Here’s What You Need to Know

On January 1, 2018, all buyers that are ready to buy a home with a 20% down payment or greater, that are used to today’s way of qualifying for a mortgage, won’t be able to receive as many mortgage dollars as they thought they might be able to. This new “Stress Test” being implemented will reduce your borrowing power by 25%. It will also apply to refinancing a home and will reduce your refinancing ability by 25% compared to today. There’s still time to avoid these changes. If you’re considering buying in the near future, speak to someone today to see if this will affect you.

Mortgage qualifications are changing on January 1, 2018, and you can expect more adjustments to rates and qualifying factors coming soon.

A Bit of the WHY Behind These Changes

Over the last year, we have seen a few changes to the way mortgages work and people apply. The first Stress Test implemented in the summer of 2017 was done so to reduce the purchasing power of high ratio buyers (buyers with less than a 20% down payment). This was done to be sure buyers could easily afford and renew their mortgage in an economy where house prices may be high and rates are going up.   

As of January 1st, 2018, the new Stress Test will apply to conventional financing, (buyers with a 20% down payment or more). This stress test will look a little different. For a buyer with 20% down, the Stress Test says that all lenders must qualify the borrower(s) at the Benchmark Rate. The Benchmark rate on the day of this writing is 4.99%

As mortgage Brokers, we have a formula that takes the interest rate into account along with your debt and your income and we produce a mortgage number that falls within an acceptable range of your borrowing opportunity. It is important to know that your contract rate is different than the Benchmark rate. That means the contract rate for your mortgage with good credit, a good job and an acceptable down payment and all things looking great would likely be between 2.99% to 3.09% for a five year fixed term. And this is the rate that your payment would be based on. ( so this is good) BUT…

As of January 1st 2018, buyers with a 20% down payment or more or that have equity in a home and are refinancing must qualify for a new mortgage or refinance at the greater of the Benchmark rate which at the time of this writing is at 4.99% or an interest rate 2% higher than the contract rate that your payment will be based on. This qualifying procedure will reduce your purchasing/refinancing ability by 25%.

Why did the rules change…well, the Federal Government is saying that rates are on the rise. They are also trying to control the overpriced housing market in the bigger cities like Vancouver and Toronto and we all have to follow suit.

The current stress test reduces a new buyer’s purchasing ability by 20% and the Stress test being implemented Jan 1st, 2018 reduces a conventional buyer’s purchasing ability by 25%. So, I can tell you that you could have had a bigger mortgage last summer but those days are changing.

Don’t Panic

Times have changed, but what has not is that owning a home is a fabulous asset in your financial portfolio, and often, an appreciating asset at that! Start shifting the rooms in your dream home and be prepared to get creative. Keep planning and dreaming about home ownership! Owning that home of your dreams is very, very possible. It just might take an extra step to get there.

At River City Financial we believe in financial education, we think that is where the power is. Yes you can still get a mortgage for your new home easily enough and yes you will still find stylish furniture that will fit into your new Edmonton house. Things are just a little tighter in the financing world today than yesterday, and your furniture will still look great in your new place!

Come chat with us at River City Financial and we will a have a full conversation and help you make the best decision for you. Anyone on my team at River City Financial will help you get ready for the next steps of home ownership and understand what you can afford.

Yvonne Wilchewski

River City Financial, Broker/Owner

CFF Bank Center, Owner

Yvonne Wilchewski is an accredited mortgage broker in Edmonton, Alberta. With over 20 years of experience in the Mortgage Industry, she offers mortgage ideas that will be profitable for you and your family. River City will strive to get you the best rates possible along with the best product for your specific mortgage needs.

Don’t Buy. DIY

If you have an interest in the DIY world, check out the newly opened DIY Workshop, located just outside Edmonton in Nisku. This innovative space allows members of the public to fix and create almost anything. This is an inclusive space, open to people of varied walks of life and abilities.

Put Your Skills to Work

The company’s industrial warehouse is equipped with a metal-working area, woodworking area, vehicle bay, space for machining, electronic lab, 3D printing equipment, and a computer lab. Simply buy a membership and then pay for a selected course or the time you need to use the space.

If you have a project or idea in mind but aren’t sure how to use everything – not a problem! The DIY Workshop offers courses and instruction on all of their equipment and processes.

Get Classy

Need a little more help to get you started? Sign up for one of their ongoing classes. Some of the topics include: Table Saw Basic, Vehicle Maintenance for Ladies, Home Maintenance (replace a toilet , replace a faucet, install a light fixture) Soldering and Electronics, and Parent/Kid Make a Birdhouse. 

Stop By & Create

This company is a true technology innovator in the Edmonton region and valuable resource for anyone who wants to create their own projects . Be sure to visit their website or stop by in person to learn more about how the DIY Workshop can help you complete your own DIY projects to make your space Your TruHome. 

Does your child plan to attend a post-secondary institution once they graduate from high school? If the answer is yes, then it’s never too early to start thinking about purchasing an Edmonton investment property they can live in while attending school.

Whether you are looking for a second property you can rent to family, or you desire a well-maintained home your children can live in (and you can visit!) while attending college or university – there are a variety of options available in many central Edmonton neighbourhoods.

Step One: Determine Your Budget

There are a host of variables at play when choosing the right property, so determining your budget from the get-go will help you zero-in on finding the perfect place.

Remember that properties closer to post-secondary institutions are often easier to rent, which also makes them more expensive to buy. So if price is a concern, consider looking for places on direct transit routes within a reasonable commute from the school. This will increase your options and provide more opportunities for getting a better deal.

Another factor to remember is to budget between $300-500 per month for condo fees.

If close proximity to school is more important than the price point, try looking for places built with solid construction and multiple bedrooms close to your preferred post-secondary institution. Properties with well-maintained character and curb appeal will help set you apart from other market properties when the time comes down the road to sell.

Step Two: Map the Commute

Again, it is always a great idea to purchase housing for post-secondary students close to major transit routes. This will increase the chances of finding other student tenants if your child will have roommates.

Surprisingly a typical commute using transit in certain neighbourhoods can be shorter than driving and parking. Google Maps is an excellent resource for verifying a true commute time. For example, Queen Mary Park is a 20 minute transit commute to the U of A compared to a 30 minute commute from Ritchie – even though they are on opposite sides of the river.

Step Three: Identify Parking Needs

If you are in need of permanent parking, remember that heated and underground parking can add some extra costs to the purchase price. However it may be a gain when it comes to resale. You can find some good deals in older and smaller buildings with outdoor parking. If it is a house with an older garage, you might want to consider rebuilding a garage suite to add more value and rental opportunities to your investment property, while also solving any covered parking needs

If you plan to buy a condo, determine if an elevator is essential, as this will help you focus your search. 

Step Four: Elbow Grease + Creativity = Good Value

If you have the skills, doing cosmetic improvements and renovations as a family can save a lot of money, and will also give your child the opportunity to personalize his/her space. Look for properties that could really be improved with some new flooring, paint, and modern light fixtures. Not only will you get some added-value down the road, it could also turn out to be a really memorable bonding exercise with your adult (or soon-to-be-adult) child.

Step Five: Make Some Room For Sharing

When it comes to bedrooms, it is always a great idea to have at least one extra bedroom for a potential roommate, and even more if you plan to visit often, or if you have multiple children who plan to share the home.

It’s helpful to look for properties with bedroom layouts that have more privacy between bedrooms. Other “must-haves” include a functional kitchen with adequate storage space, and at least one bright and spacious communal space. In-suite laundry that is organized for shared use can be a real bonus for busy post-secondary students.

Step Six: Identify House Rules Before Move-In

Once you have purchased the property, sit down with your child (or children) and discuss expectations of the living arrangements prior to them moving in. Writing out the rules, terms of agreement and  expectations will help keep everyone on the same page and will reduce conflict and misunderstandings.

Here are a list of some relevant topics for conversation:

• Is the housing only available while the child is attending school?
• What will the rent be and when and how should it be paid?
• Will a security deposit be required? How about for roommates?
• Who gets to decide the appropriate roommates?
• Are overnight visitors allowed?
• Who will take care of renovations and fixing problems?
• Who will pay for the utilities and maintain any outdoor spaces?
• What are the rules for parents stopping by and entering property?
• Are romantic partners allowed to move in? Will they need to pay rent, and how much?
• What are the building by-laws regarding pets, smoking, children and long-term visitors?

If you are considering purchasing a property for your child or children attending an Edmonton post-secondary institution, the TruHome team can help you choose the best options when it comes to condos and homes in some of these Central Edmonton communities: Downtown |  Oliver | Queen Mary Park | Garneau | Strathcona | Ritchie

TruHome Inc. is excited to be part of the Canadian Open Data Summit (CODS) 2017, taking place this week in Edmonton at the Chateau Lacombe Hotel.

This is the first time Edmonton is hosting this prestigious international conference, drawing some of the most knowledgeable experts relating to open data and open government communities.

As many as 400 open data enthusiasts from federal, provincial and municipal government; Policy makers, private business; Civic technology groups, academics, and students interested in the growing field of open data are all expected to attend.

So just what is open data anyway? The CODS describes it as “a practice that makes data freely available, easy to access, and most importantly, simple for the public to use in machine-readable formats.Open data can be freely used, re-used and redistributed by anyone.”

According to Elisse Moreno, realtor with Truhome Inc., open data will be a huge part of the real estate revolution in Canada – allowing private citizens to make better informed decisions about the cities and houses they choose to call home.

“Our team is excited to be speaking at the conference,” says Moreno, a long-time member of both Edmonton’s tech and real estate communities. “The more open cities are, the easier it is for citizens to become educated about issues relating to the biggest financial decisions of their lives,” Moreno explains.

 

“Open data is providing more accurate answers to questions about issues such as flood concerns, neighbourhood growth and development forecasts, infrastructure plans and neighbourhood profiles.”

 

This year’s conference will focus on open data analytics, partnerships and crowdsourcing.
To learn more about how the use of open data is helping Canadians buy and sell homes, contact Elisse Moreno at TruHome Inc.